Spotify valued at USD 3 bln in latest funding - report

Monday 12 November 2012 | 08:54 CET | News

Spotify is in the midst of closing a round of financing that will value the online music service at slightly more than USD 3 billion, people with knowledge of the matter told the Wall Street Journal. The UK-based company is raising more than USD 100 million from multiple investors, including Goldman Sachs, the report said. However, the round falls short of Spotify's earlier ambitions to raise money at a valuation as high as USD 4 billion, other sources told the paper. Spotify last raised about USD 100 million in 2011 from venture-capital firm Kleiner Perkins Caufield & Byers and Russian investment firm DST Global, at a USD 1 billion valuation.

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